Sting operation reveals presence of black money in property deals

A sting operation conducted by an Indian news website in the country, revealed that at least 35 real estate developers were willing to accept black money in property transactions and some suggesting payment abroad to evade attention of the authorities in India. The operation was conducted across 9 states and cities including Delhi, NCR, Mumbai and took about 18 months to complete, investigated real estate firms and top rung executives in of these companies in UP, Haryana, Maharashtra, Karnataka, Rajasthan, West Bengal and Andhra Pradesh.

Most the executives who were contacted, and those included CEOs and CMDs, expressed willingness to accept money abroad through hawala channels including Dubai, Singapore and US. The sting was named ‘Operation Black Ninja’ and came at a time when the Government is trying to expose black money trails.